Also make sure you check fire suppression requirements on min square feet per buildout.

There is loads of opportunity in the Chicagoland area from low to high risk so what ever your appetite is there is options here.

Companies that write Single Family Rental Dwellings have different appetites depending on things like:- proximity to the coast- fire protection (ie Hydrants & Paid fire depts. vs Pumpers and Volunteers)- what their results have been in the areaAll that can cause the company that is best for a town, area, age of building, etc to vary.

It's a small town with a suppressed economy.  

This may or may not change in the near future depending on the carriers appetite in that area. 

I think it depends on your appetite for risk.

This is the ultimate question that you have to decide for yourself based on goals and risk appetite! 

These deals can get funded however not all lenders have an appetite for them.

I use 620, but your risk appetite may vary.Perform full background checks including payment history, civil, and legal issues.Take a serious look at problems revealed in the background check. 

all depends on your appetite. we bought our first STR in Panama City and i live in Atlanta. hasnt been an issue so far remotely managing